If you’ve received a notice of enforcement, a power of sale, or you’re several payments behind — read this first, then call. When there’s equity in your home and you act early, the process can very often be stopped. The single biggest factor in the outcome is how quickly you move: options shrink and costs rise the closer a sale date gets.
Where do you stand right now?
- A few payments behind, no notice yet — the best position to be in. Acting now is far cheaper than waiting.
- Received a demand or arrears notice — the lender has started the clock, but there is usually still room to arrange financing.
- Notice of sale / power of sale issued — time-critical, but if there’s equity a fast private mortgage can often clear the arrears and stop the process.
- A sale date is set — urgent. Call immediately and get independent legal advice alongside any financing.
How a solution usually works
When there’s enough equity, a fast equity-based private second mortgage can fund in days, clear the arrears, pay any enforcement costs and reinstate the mortgage — stopping the sale and buying time to stabilise. It’s more expensive than a bank, so it’s used as a short, dated bridge with a clear exit: repair credit, then move to a B-lender, and eventually back to an A-lender. See exit strategy.
Why acting early changes everything
Every stage that passes adds legal and enforcement costs to the payoff and narrows the choices. A homeowner who calls at the first missed-payment stage typically has calm, lower-cost options. The same homeowner two weeks before a sale date has fewer, and more expensive, ones. If you take one thing from this page: the earlier you reach out, the more we can do.
What to have ready when you call
- Any notices or letters from the lender or their lawyer (dates matter)
- Roughly what you owe on the mortgage(s) and the arrears amount
- An estimate of your home’s current value
- Whether there are other charges registered on title (CRA, liens, other mortgages)
General information, not legal, financial or insolvency advice, and not an offer of credit. Power of sale and foreclosure are legal processes — seek independent legal advice about your specific situation. A private mortgage is secured against your home, generally costs more than prime lending, and missed payments have serious consequences. Any outcome depends on your equity, the timing and the lender’s process.